Can we ‘redistribute’ prestige?

Pudding.cool has a good visual essay on the yard-sale model of economics, which shows that wealth has a tendency to accumulate more in the hands of people who are already wealthier. This is because a richer person has more opportunities to regain lost wealth than a poorer person. The wheels of the model turn every …

Veblen cars and useless concerns for the climate

Lexus has an ad on the jacket of today’s The Hindu for its new premium hybrid electric vehicle, the LS 500h. The product description states that the car “extends relentless innovation to environmentally conscious engineering with a performance-centric Multi Stage Hybrid System. Crafted with luxury in mind and engineered with the environment at heart” (emphasis added). …